Key takeaways
- Solana crashes nearly 10% as $70 support approaches
- SOL liquidations reach $69 million, mostly long positions
- ETF withdrawals accelerate ahead of Solana Breakpoint 2026
Solana (SOL) plunged nearly 10% over 24 hours, falling toward the critical $70 level as leveraged traders faced approximately $69 million in liquidations and institutional ETF withdrawals added pressure to an already weakening cryptocurrency market.
SOL traded around $72.30 on November 15, after touching a 24-hour low near $71.61. The token has lost approximately 19.4% over seven days, extending a decline that previously threatened the $80 support level.
According to CoinGlass derivatives data, approximately $67.25 million of the latest liquidations involved long positions, representing 97% of the total. The selloff coincides with the opening of Solana Breakpoint 2026 in London.
Why Is Solana Crashing? $69M Liquidations Hit SOL
The latest decline reflects a combination of leveraged selling, weaker institutional demand and broader cryptocurrency market pressure.
Solana futures open interest dropped approximately 11.4% over 24 hours to $4.21 billion, suggesting traders were closing positions or being liquidated as prices declined.
Meanwhile, SOL futures funding turned negative, indicating growing demand for short exposure relative to long positions.
The selling follows earlier Solana ETF withdrawals, which had already raised concerns about weakening institutional demand in October.
Preliminary ETF data for November 13 showed another $3.1 million in outflows, entirely attributed to Fidelity's FSOL among reporting funds. The broader outflow streak reached seven consecutive trading sessions, totaling approximately $58.3 million.
The decline comes despite the network's recent Wall Street tokenization milestone, with DTCC planning Solana integration for regulated securities in 2027.
Solana Price Prediction: Can SOL Hold $70?
The immediate focus is the $70 psychological support level after SOL broke below $75.
If buyers cannot defend $70, the next downside reference is approximately $67.50, an earlier technical range boundary identified during Solana's summer correction.
A sustained breakdown below that area could expose $65, followed by $60 in a deeper bearish scenario. These are conditional price zones, not guaranteed targets.
Previous Solana technical analysis identified a similar downside structure when SOL traded near $73 earlier this year.
Conversely, reclaiming $75 would provide an initial stabilization signal, while a move above $78–$80 could weaken the immediate bearish outlook.
Solana Breakpoint 2026 Opens Amid Crypto Selloff
Solana's latest decline coincides with Breakpoint 2026, scheduled for November 15–17 in London.
The conference focuses on institutional tokenization, stablecoins, payments and AI-powered financial infrastructure.
Yet expanding network adoption has not prevented SOL from falling. Earlier tokenized stock trading reached $657 million in a single day, demonstrating activity that has not translated into sustained token-price strength.
Corporate exposure also faces pressure. Forward Industries recently disclosed holdings of 8.73 million SOL, making further price declines relevant to its treasury valuation and financing strategy.
